Citigroup Exits Indonesian Retail Banking, What is the Fate of Customers? This said the CEO of Citi Indonesia

JAKARTA, KOMPAS.com – Citigroup Inc. plans to go out of business consumer banking or banking retail in 13 countries, including Indonesia.

Responding to this, CEO Citi Indonesia God Sianturi said there was no direct change to banking operations in the country.

“There will be no direct changes to our operations in Indonesia, and there will be no direct impact on our employees after this announcement,” he said in a written statement, Friday (16/4/2021).

Also read: Citigroup Will Leave the Indonesian Retail Banking Business

“For now, we will continue to serve client and our customers with the same care, empathy and dedication we have been doing, ”he added.

Batara explained that Citi’s departure from the retail segment was a form of refreshment from the banking business model.

“This will create a great opportunity for us to offer a different and unique value proposition to our clients,” he said.

According to him, this step will also make Citi Indonesia more focused on the institutional banking segment.

“We currently serve 90 percent of the 20 largest companies in Indonesia and last year we raised more than 10 billion US dollars for our clients in Indonesia,” he said.

Also read: Know the Principle Bank that occurred in Aceh

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